According to Yonhap News Agency, Son Seon-yeong, head of the Foreign Exchange Analysis Division at South Korea’s Ministry of Economy and Finance, spoke on November 11 at a seminar in Yeouido, Seoul, titled “The Era of Stablecoins, the Future of South Korea’s Cross-border Payments.”
She said matters related to stablecoin issuance will be regulated by the Digital Asset Act led by the Financial Services Commission, while cross-border transaction matters will be regulated by the Foreign Exchange Transactions Act.
Son said that, going forward and in conjunction with formulation of the Digital Asset Act, the legal nature of stablecoins, cross-border transactions, and payment procedures will be stipulated through the Foreign Exchange Transactions Act. Authorities will communicate fully with industries about services under preparation, specific models, and market demand, collect opinions, and then prepare an institutionalization plan.
The remarks were reported on November 11, 2026.
Original article: TechFlow Post
